Market Watch
This month I want to recap the
local real estate market in 2012 compared to 2011. This is especially easy since
our market improved in virtually every category last year.
The easy place to start is
closed transactions. Our BLC (broker listing cooperative, which used to be
called MLS) closed 4,387 home sales last year up 8.83% from 2011. The median
sales price increased 4.4% increasing our average sales price to $125,971. Days
on market decreased 11.3% compared to 2011 but is still higher than I like, at
105 days.
The big news, which I have
mentioned frequently over the past year, is that the months supply of homes
listed for sale continues to decline. The average for 2012 was 7.32 months down
from 8.70 months in 2011 and 9.43 in 2010. This is the lowest average level in 6
years. As of today there are fewer than 2,400 active listings on the market. My
records do not go far enough back to find fewer active listings than this. If
you are considering selling your home, now is the time to list. I am confident
that new home construction will increase significantly this year. Homes listed
now will reach the market before these new homes are completed and on the
market.
If you are considering listing your
home, no one has better tools to market your home. Traffic on FCTuckerEmge.com
and Tuckermobile.com are higher now than they have ever been. In fact, visits to
FCTuckerEmge.com for the first two months of the year are up almost 11% versus
the same time last year. With over 95,000 visits, FCTuckerEmge.com is the source
for information on real estate in our area. And don’t forget that
TuckerMobile.com is always with you on your smart phone!
Please let me know if you know
of anyone considering selling their home. I would be happy to prepare a market
analysis and help them sell their home.
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